What Is Business And Industrial ?

Ernest F Cooke

There is no single, clear, specific definition of business definition of industrial marketing. We will also or industrial marketing. Existing definitions are incon• examine the differences between industrial and sistent and there has been a claim that there is no differ• consumer marketing and present a rationale for ence between industrial marketing and consumer mar• the position that industrial marketing, despite 1 keting. It seems appropriate for the inaugural issue of some similarities, is significantly different from a journal on business and industrial marketing to ex• consumer marketing and therefore is properly amine this problem and to attempt to clear up the treated as a separate subject. confusion.

DEFINITIONS INTRODUCTION There are two points that need to be made It is hard to find a definition of business or in• about the term "industrial marketing": dustrial marketing, and those few that exist are not consistent with one another. In addition, it is 1. It is a misnomer in that the word "industri• claimed that there is no significant difference be• al" implies industry only, whereas, indus• tween consumer marketing and industrial mar• trial marketing actually has come to mean keting and that it is a mistake to differentiate be• more than just marketing to industry. tween them. This article examines the issues.2 First let's examine the various definitions per• 2. Through common usage, consumer mar• taining to industrial marketing and the nature of keting and industrial marketing have come the problem of defining industrial marketing. to cover the entire marketing universe and Then we can attempt to present a simple, concise are considered mutually exclusive.

Ernest F. Cooke, Ph.D., Case Western Reserve University, is a Professor of Marketing and holds the Chair in Sales, en• dowed by Sales and Marketing Executives of Memphis, in the Fogelman College of Business and Economics at Memphis State University. Th author wishes to thank James Richard Shannon for his assistance in preparing this article.

VOL. 1 No. 1 FALL 1986 9 THE JOURNAL OF BUSINESS AND INDUSTRIAL MARKETING

This second point does not mean that there are and contradictions in existing definitions of in• not other types of marketing. For example, do• dustrial marketing. However, they do not show mestic and international marketing also cover the all of the problems. Some other discrepancies in• entire marketing universe and are also considered clude the questions of inclusion or exclusion of mutually exclusive, and agricultural marketing or agricultural markets and the middlemen in con• nonprofit marketing can be consumer or industri• sumer markets. Before a single definition can be al, international or domestic. developed, guidelines distinguishing industrial marketing from consumer marketing must be Defining industrial marketing usually starts established. with one of three approaches: (l)the product defi• nition approach, (2)the market definition ap• proach, or (3)the marketing activity approach. VARIOUS APPROACHES It has been suggested that the most useful defi• The first view is the product definition approach. nition of industrial marketing should focus first This focuses upon the industrial product and how on the industrial customer and then on the indus• to differentiate an industrial product from a con• trial product. The problem with this view is that sumer product. This is the easier of the three ap• the greatest disparity in defining industrial mar• proaches; there is more agreement on what con• keting comes in defining industrial markets (the stitutes an industrial product. Industrial goods industrial customer). One definition of industrial are defined in terms of the product characteristics marketing is "the marketing of goods or services or uses. The definition from the AMA is, "Indus• to commercial enterprises, governments, and trial Goods-goods which are destined to be sold other non-profit institutions for resale to other in• primarily for use in producing other goods or ren• dustrial consumers or for use in the goods and ser• dering services as contrasted with goods destined vices that they, in turn, produce." This follows the to be sold primarily to the ultimate consumer. suggestion of concentrating first on the They include equipment (installed and accesso• customer.1 ry), component parts, maintenance, repair, and operating supplies, raw materials, and fabricating Another definition says "industrial marketing is materials." The complication inherent in this clas• the marketing of goods and services to industrial sification system is that many products can be ei• customers for use in the production of goods, for ther industrial or consumer, depending on how use in the operations of businesses themselves, they are used. This is why the market definition and for use by non-political institutions."5 This comes into consideration. differs in two ways from the first definition. It concentrates on product rather than market and it excludes governments (nonpolitical) while the CHARACTERISTICS OF INDUSTRIAL MARKETING first specifically includes political institutions A discussion of industrial markets must begin (governments). with a look at some of the characteristics that dis• tinguish them from consumer markets. First, and Still another author defines industrial market• most important, the demand in industrial markets ing as "human activities directed toward satisfying is derived. No industrial purchase would be made wants and needs of professional buyers and other if it weren't for some consumer demand. All in• individuals influencing purchases in commercial, dustrial sales are made to companies or institu• institutional, and governmental organizations tions that sell to other companies or institutions 3 through the exchange process." This definition who will, somewhere down the line, provide a concentrates on the marketing aspect of industri• product or service to ultimate consumers. This is al marketing, the third outlook. especially apparent with companies that sell goods that become part of the final consumer product Even more marketing oriented than the last (raw material, component parts) or that are used definition is the definition by the authors of a in producing the consumer product (equipment, basic textbook in marketing. They say "industrial machine maintenance, and repair parts and ser• marketing is a set of activities directed toward fa• vices). It is beyond the scope of this paper to dis• cilitating and expediting exchange involving cus• cuss the significance of derived demand to eco• tomers in industrial markets and industrial 4 nomic analysis, forecasting, and marketing products." This deals exclusively with marketing, strategy. depending on further definitions to explain in• dustrial markets and industrial products. Derived demand is an important and unique as• These four examples show the discrepancies pect of the difference between industrial markets

10 WHAT IS BUSINESS AND INDUSTRIAL MARKETING? and consumer markets. However, there are five similar), a customer of the buyer will generally get other characteristics which help differentiate be• the order. tween the two markets: Stable Buying Relations (Long-Term Relationships). Concentrated Markets. The consumer market Once a buying relationship is established in indus• consists of somewhere over 200 million people. trial purchasing, it is very difficult for outside The industrial market, on the other hand, is limit• sources to break into the purchase chain. A buyer ed to slightly over 10 million (including 2 million usually establishes more than one supplier for a farmers). Also the 80/20 principal applies to in• frequently used product, helping to ensure a dustrial markets. In 1972 the top 500 of the smooth, adequate supply, maintain price competi• 300,000 manufacturers (1/6 of 1%) accounted tion (to prevent a drastic price increase), and pre• for 67% of all industrial output. In farming, less vent overdependence, but once two or three than 10% of the farmers produce over 50% of the sources have been established it is difficult for a output. new supplier to establish a relationship. In some Industrial markets are also concentrated geo• situations sellers and buyers set up joint graphically. Four of the top five tire manufactur• ventures. ers are headquartered in Akron, Ohio. The big three auto makers are all based in Detroit, and The two-way flow of information, engineering, Milwaukee and St. Louis are major beer produc• and innovation is very pronounced in industrial ers. Steel and coal are concentrated in the north• marketing, where there are frequently long east, particularly Ohio, Pennsylvania, and West chains of buyer-seller relationships with many Virginia. branches. A simplified example would be steel manufacturer to turbine blade manufacturer to Rational Buying Motives. Factors that influence jet engine manufacturer to airframe manufactur• an industrial purchase are, in general, more ra• er to commercial airline. One of the numerous tional than those affecting consumer purchases. branches would be electric motor and control This does not mean that industrial marketing is manufacturer to forging press manufacturer to totally rational, only more rational. Part of this is turbine blade manufacturer. In these long chains due to organizational constraints. Profit maximi• the individual firm, when acting as a buyer, fre• zation or cost minimization are usually a major quently is an instigator rather than a reactor (most part of organizational goals when products and ultimate consumers are reactors). A steel manu• services are purchased. This can lead to restric• facturer might develop a new steel that could end tions as to whom to buy from, maximum prices, up in the engine of a commercial airliner. Just as and terms required before a purchase is made. likely, though, an airline engineer might have a Purchase usually requires some level of organiza• specification and/or an idea that leads eventually tional consensus. Decision makers develop areas back through the chain to a new steel and also a of expertise, and some purchasing people are cer• new electric motor control to deal with the forg• tified by their professional organization. ing characteristics of the new steel. Again this two-way flow is very common and very pro• Many organizations even require bids when nounced in industrial marketing and is another making a major purchase, with the low bid (meet• reason for stable buying relationships and long- ing set specifications) automatically getting the term commitments. order. Also, in organizational (industrial) pur• chases the decision maker may be subject to an audit at a later date. If improprieties are discov• Sometimes, maintaining these stable relation• ered, they could lead to termination and even ships can be irrational. A new vendor may provide legal action. better service, improved quality, and lower pric• es. However, the vendor may never get a chance Reciprocity. This is the practice of buying goods to make the initial sale. This may be because of in• and services from those who buy from you. Al• ertia, reciprocity, fear of the unknown, or just though it has been successfully attacked by the lack of desire to try a new supplier. government, the practice does, and will, continue to exist. Although reciprocity cannot be required Multiple Buying Influences. There are more buy• in an agreement, it is still an important issue in an ing influencers in industrial purchases than in industrial purchase decision. Reciprocity is ra• consumer buying. Family and a few friends are tional only as long as it does not result in inferior about the only buying influencers in consumer purchases. All other things being equal (or even purchases (usually not more than four or five

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Table 1 A Comprehensive Product/Market Classification System

Characteristic Consumer From Consumer to Industrial Industrial Consumer Industrial Column One Column Two Price: Unit Price Lowest Increases Highest Typical Order Lowest Increases Highest Time: Planning Shortest Increases Longest Negotiation Shortest Increases Longest Delivery and Installation Shortest Increases Longest Consumption Shortest Increases Longest Product Characteristics Simple Increasing Complexities Complex Standard Standardization Decreases Special Post-shipment Few/ Many/ Services Occasional Increases Frequent Market Characteristics: Size Largest Decreases Small Risk Lowest Increases Highest Dissonance Low Increases High Number of Buying Influencers Few Inreases Many Decision Level Low Increases High Examples: Gum, candy bar Nuclear power plant, soda pop, cigarettes large hydroelectric dam

maximum for most purchases) while in industrial al products exceed the price of an average home purchase decisions everyone from the receiving by a wide margin. clerk to the board of directors can influence the final decision. Most common of these would be Size of Purchase. The typical industrial purchase the user(s), purchasing agents, warehouse person• exceeds the typical consumer purchase. The aver• nel (if storage is required), budget directors, man• age housewife would rarely buy more than one or agers (in the areas involved), and company offi• two 5 pound bags of flour whereas the average cers. In addition there are influencers external to small bakery would buy several 100 pound bags the firm, such as customers and unions. As a result and a national baker would buy flour by the train- there can be an infinite number of influencers for load (hedged on the commodity market). any single decision.

PRODUCT CLASSIFICATION SYSTEM Planning Time. The amount of time and effort Another way of looking at the differences be• put into making the decision to make a purchase, tween industrial and consumer marketing is to even before a supplier is contacted, is much long• construct a single product classification system er in an industrial market than with consumer that examines both industrial and consumer purchases. products. Such a system is shown in Table 1. Price. Generally speaking, industrial products Negotiation Time. The time spent between initial are more expensive than are consumer products. contact and a final purchase decision is also much The highest priced industrial products are much longer in an industrial purchase than in a consum• more expensive than are the highest priced con• er purchase. Price, delivery time, quantity dis• sumer products. About the highest priced con• counts, quality, and so on are much more impor• sumer product is a house, whereas many industri• tant in an industrial purchase and must often be

12 WHAT IS BUSINESS AND INDUSTRIAL MARKETING? negotiated with several suppliers before the best meat-packing processes), repair, and even techni• combination is found. cal assistance and education. Breakdown of a home computer or stove is rarely a critical emer• Delivery Time. Once a purchase is made, delivery gency to a consumer, but for a corporation (com• time is usually delayed in industrial purchases. puters) or a baker (stove), business may cease until Whereas the ultimate consumer usually expects repairs are made. to take purchases home immediately, industrial buyers rarely expect the salesperson to carry stock Size of Market. Some consumer products are for with them. every single ultimate consumer. Some industrial Installation. Few consumer products require in• products are sold only to one customer (aircraft stallation (other than as a matter of convenience carriers are sold exclusively to the Navy). for the purchaser). A TV or radio, a stove or a re• frigerator may require delivery, but installation Risk to Purchaser. Because industrial purchases simply requires a plug. On the other hand, a meat generally involve larger sums of money, longer freezer, pizza oven, office telephone system, term commitments, and greater effect on future heavy production machinery, central computer profits, industrial decision makers generally face system, and so on can rarely be installed by any• greater risk than do consumers. one other than a professional with special training and tools. Dissonance. Since there is little perceived risk in the purchase of a simple consumer product, there Consumption Rate and Frequency of Purchase. As a is also little post-purchase thought (dissonance) in• general rule, consumer products are purchased volved. A poor purchase of a simple consumer more often (partly because they are purchased in product has little or no lasting effect on the pur• smaller quantities) and used up faster than indus• chaser. It is quickly forgotten and the monetary trial products. loss is small. Of course, as consumer products be• come more expensive, complex, and so on, there Product Complexity. Although many consumer is the possibility of more dissonance. With most products (radios, TV's, home computers) seem complex to the average consumer, they are very industrial purchases there are serious conse• simple when compared with the complexities of quences when poor decisions are made. There• an IBM mainframe computer, assembly line ma• fore, there is much greater concern about the wis• chinery, a 20-line telephone switchboard, a diesel dom of the choice. The dollar amounts are locomotive, a nuclear power plant, and so on. greater and the consequences more serious for a Also, industrial products are often found in many longer period of time. varying qualities or grades (flour, for example) while the consumer usually does not make such Number of Buying Influencers. As was discussed choices. earlier, there are many more influencers in indus• trial purchases than there are in consumer Standardization. On the whole, there tends to be purchases. far more standardization in consumer products than in industrial products. Rarely do consumers Level of Purchase Decision. In consumer purchas• have something specifically designed and espe• es, the decision is usually made by one person cially made just for them. Even consumer prod• (maybe two) at a low level. Anyone can decide to ucts that are often referred to as "special orders" buy a candy bar, and even in purchasing some• are usually just combinations of pre-established thing more complicated (home computer, auto) it options. In industrial purchases, however, it is not is usually the user who makes the final purchase uncommon to ask to have a product redesigned to decision. In industry, however, the decision may fit a special need of the buyer. This is especially be made by anyone from the user to the purchas• true in production machinery and tools and in ing agent to the board of directors. The more major installations. complicated and more complex (and generally more expensive) the product, the higher up the Post-shipment Services. The level, technical com• chain of command the final purchase decision is plexity, frequency, and urgency of manufacturer- made. supplied service is far greater in industrial appli• cations than in consumer uses. These services In this product classification system it is seen include installation, maintenance (which may be that as the various characteristics change from required by law-fire sprinkler system, elevators, minimum to maximum (or vice versa for a couple

13 THE JOURNAL OF BUSINESS AND INDUSTRIAL MARKETING of characteristics) there is a shift from consumer in marketing one PC to an individual versus large products to industrial products. There is a contin• numbers of PC's to General Motors for their ac• uum which starts with very simple consumer counts receivables offices? Would the same mar• products only, then moving along the continuum, keting strategy work in selling flour to a house• includes products that are both consumer and in• wife and to Nabisco? Would any seller dare to use dustrial, with a shift from consumer to industrial, the same approach and selling strategies in selling until at the end there are only very complex in• to these various groups? dustrial products. The list of characteristics shown in Table 1 help illustrate differences between the industrial and MARKETING STRATEGIES consumer products. Within these characteristics, Some of the differences between industrial and one can identify the different attitudes and philos• consumer marketing have been examined. Con• ophies toward marketing various products to in• sidering these differences, it is not realistic to as• dustrial and consumer purchasers, and, by exam• sume the same marketing strategies can be used ining these characteristics, can formulate proper for consumer and industrial products. Thus, the marketing strategies. These strategies will not be distinction between industrial marketing and con• the same for consumers as for industrial purchas• sumer marketing is both real and relevant, and ers, so the key is not just what is being purchased well worth investigation and study. but who is purchasing it.

It has been argued that the industrial/ This point can be further illustrated if we look consumer marketing dichotomy is not justifiable at promotional strategy. can be divid• and that the general rules should be set for mar• 2 ed into three parts: (1) mass selling, (2) personal keting as a whole. A great deal of this argument selling, and (3) . Since sales pro• is based on the contention that many products can motion is used to support both mass selling and serve as both industrial and consumer , it is irrelevant to the comparison products. of industrial and consumer marketing. Mass sell• There is no disagreement with the contention ing and personal selling are, however, very impor• of product cross-classification but this multiple tant to this discussion. use of products is further evidence of the need for industrial and consumer strategies. Those prod• Mass selling, which is in the mass ucts that are totally industrial or totally consumer media (print, electronic, and outdoor) is used to pose no great problem. They are marketed with reach large audiences for standardized products. separate basic marketing philosophies: for con• These products are mass produced, purchased sumer products the seller tends to use mass sell• frequently, and usually involve relatively small ex• ing, intensive , product uniformity, penditures. If we look back at the market and long channels, and standardized prices (gum, cig• product characteristics, we see that these charac• arettes, soda pop). Sellers of purely industrial teristics fit consumer products. products, on the other hand, tend to use personal selling, no middlemen, exclusive distribution, Personal selling, on the other hand, is used customized products, and price differentiation. when purchases are not standardized, larger in volume, less frequent, and more technical, and re• It is precisely those products that can fit into ei• quire more services, instruction, installation, and ther industrial or consumer classifications which so on. These characteristics match those of indus• need clarification and which complicate the prob• trial products. lem of defining industrial marketing. Using some of these products that are either industrial or con• Although the generalization could be made sumer, it is interesting to examine the marketing that mass selling is used to sell consumer products strategies for the consumer market and the indus• and personal selling is used to sell industrial prod• trial market. The automobile is an example of a ucts, this is just that, a generalization. All promo• product that is equally consumer and industrial. tional efforts are, in fact, a combination of mass Who would claim that marketing automobiles to selling and personal selling. The question is, how the individual consumer and marketing a fleet of much of each type of selling is involved in various automobiles to a utility company, a government purchases. bureau, or a car rental firm require the same mar• keting strategy? Would IBM use the same strategy As was noted above, a product classifications

14 WHAT IS BUSINESS AND INDUSTRIAL MARKETING? system has been developed which indicates, on a treme to the other along this continuum. continuous basis, the degree of each type of sell• ing necessary in marketing various products. At These five generalizations are: the two extremes are purely consumer products (consumer products of the simplest form: a can of 1. The major method of promoting the sim• soda pop, a pack of cigarettes, a pack of gum) and plest consumer products is mass selling. purely industrial products (the most technical, ex• 2. The major method of promoting the most pensive specialized industrial goods: a nuclear complex industrial products is personal power plant, a large hydroelectric dam). selling.

Note that with a consumer product almost all 3. A combination of mass selling and person• promotion is mass selling. These products are al selling is used for most products. widely distributed, inexpensive, highly standard• 4. With movement along the continuum ized products which are purchased repeatedly from simple consumer products to the with little or no thought involved. At the other other extreme, the most complex industri• extreme are purely industrial products. There is a al products, mass selling becomes less im• very small market, slow consumption, infrequent portant and personal selling becomes more purchases, high risk, top-level decision making important and more predominant (and with many influencers, frequent post-shipment services required, multiple installations required, vice versa). no product standardization, highly complex, and 5. Whatever is the major method of promot• very large, expensive purchases. With these prod• ing the product, the other is used to sup• ucts, personal selling is by far the dominant form port it. of promotion. It is important to note, however, that whether mass selling or personal selling dom• Similar generalizations can be made concern• inates the promotional mix, the other is used to ing the channel of distribution: support it. Between these extremes are a myriad of products. An automobile is a complex consum• 1. The simplest consumer products are dis• er product which requires about equal amounts of tributed through a long channel of distri• mass selling (to persuade the consumers what bution (many middlemen in series). make to buy and which dealer to shop at) and per• sonal selling (to convince them of the quality and 2. Moving from the simplest consumer prod• value of the specific car and what options are de• ucts toward the other extreme, the chan• sirable). Above this on the model are primarily in• nel of distribution gets shorter (fewer dustrial products and below it are primarily con• middlemen). sumer products. With movement from consumer toward industrial products, personal selling re• 3. The most complex industrial products are places mass selling in both frequency and sold direct, with no middlemen, because importance. the basic middleman functions (reducing the number of contacts between sellers and buyers) is not necessary or even Five generalizations describe the role of per• desirable. sonal selling and mass selling. It is important to emphasize again that this model represents a con• 4. Distribution for simple consumer products tinuum of products from strictly consumer, to is very close to intensive (all outlets of mostly consumer and some industrial, to consum• all types). er and industrial, to mostly industrial and some 5. Moving from simple consumer products consumer, to strictly industrial. Flour in 5-pound toward the other extreme, distribution at bags sold in supermarkets is consumer (see col• the retail and/or wholesaler-distributor umn 1, Table 1), in 100-pound bags sold to a level goes from almost intensive to baker is further along the continuum, and in intensive/selective (all outlets of one type trainloads sold to a large bread manufacturer is al• or a few types) to selective (a few outlets in most all the way to purely industrial on the contin• an area) to exclusive (only one outlet in an uum (not quite to column 2, Table 1). As is shown area). in Figure 1, this is how mass selling and personal selling are used with movement from one ex• 6. Since the most complex industrial prod-

15 THE JOURNAL OF BUSINESS AND INDUSTRIAL MARKETING

ucts are sold direct, there are no uct sold to consumers, the marketing of these middlemen. products must be handled differently. The em• phasis in this system is more on the buyer than on As seen in Figure 1, these changes in marketing the product being sold. strategy are also on a continuum, from a high ratio of mass selling to personal selling at one ex• treme, to fifty fifty in the middle, to a high ratio of WHAT IS INDUSTRIAL MARKETING? personal selling to mass selling at the other ex• Probably the biggest stumbling block in exist• treme, from the longest channel of distribution to ing definitions of industrial markets is the ques• direct, from almost intensive to exclusive. tion of manufacturer/agent/wholesaler/retailer sales in the consumer channel of distribution. An equal number of authors feel that the manufac• turer through agents to wholesaler to retailer (or any shorter channel) trade is part of the industrial market as those who feel it is not. Using a defini• tion of industrial marketing which says that any marketing other than to the ultimate consumer is industrial, manufacturer through agent to whole• saler to retailer sales would be considered indus• trial marketing. However, the AMA's definition of industrial goods excludes from the industrial markets finished products destined to be sold to the ultimate consumer without further process• ing, which is one of the problems with that definition.

The differences in industrial products and in• dustrial markets and the various industrial mar• keting techniques have been examined. Now it is time to answer the question posed at the begin• ning of this article: What is industrial marketing?

Industrial marketing is marketing to the organiza• tional buyer as contrasted to consumer marketing, It is important to reemphasize that the same which is marketing to the ultimate consumer. product may occupy different positions in Figure 1 when purchased for different purposes. The CONCLUSION 5-pound sack of flour the housewife buys would rate very low, while the trainload the national Industrial marketing is not the same as consum• bakery purchases would rate much higher. The er marketing. Different strategies must be devel• trainload purchase rates much higher on the size oped for different types of products (or for the of the purchase, planning and decision time, ne• same products at different levels on the gotiation time, product complexity (grades), de• consumer-industrial continuum shown in Table 1 livery time, risk, buying influences, and decision and Figure 1). level, and lower on market size and frequency of purchase. All of these factors help determine There are six areas where there are significant where a product falls on this scale. differences between industrial marketing and consumer marketing: derived demand, reciproci• This multiplicity of scale locations is one reason ty, multiple buying influencers, stable buying re• the distinction between industrial and consumer lationships (long-term relationships), rational marketing is so important. Different marketing buying motives, and concentrated markets (both strategies are necessary with movement up and number of customers and location). down this scale. Product, place, promotion, and price strategies vary with movement from con• There is a significant difference in promotion sumer toward industrial products. Thus, since .in• and distribution strategies between consumer and dustrial products rate higher than the same prod• industrial marketing. Industrial marketing is

16 WHAT IS BUSINESS AND INDUSTRIAL MARKETING? dominated by personal selling and supported by promotion. Channels are long and distribution mass selling and sales promotion. Most sales in in• tends to be almost intensive. dustrial marketing involve personal selling as the With these distinctions in mind, it is not feasible dominant form of promotion. Channels are short• to say that industrial marketing and consumer er and distribution is selective. In consumer mar• marketing are the same. A company needs to de• keting, however, it is common for an individual to velop different strategies for dealing with indus• shop self-service, basing purchase decisions strict• trial and consumer segments. The key to these ly on mass selling messages and personal experi• differences is the buyer. In industrial and business ence. Consumer marketing usually features mass marketing it is the organizational buyer, in con• selling, supported by personal selling and sales sumer marketing it is the ultimate consumer.

END NOTES 1. Corey, E. Raymond (1983), Industrial Marketing: Cases and Concepts. Englewood Cliffs, NJ: Prentice-Hall. 2. Fern, Edward F., and James R. Brown (1984), "The Industrial/Consumer Dichotomy: A Case of Insuffi• cient Justification," Journal of Marketing, 48 (Spring), pp. 68-77. 3. Haas, Robert W., DBA (1982), Industrial . Boston: Kent Publishing Company. 4. Pride, William M., and O. C. Ferrell (1980), Marketing: Basic Concepts and Decisions. Boston: Houghton Mifflin Company. 5. Risley, George (1972), Modern Industrial Marketing. New York: McGraw-Hill.

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